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what does inflation taste like
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4 upvotes
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Via_Getty
3 years ago
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politics
yellen and screaming
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4 Comments
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berry2690
1 up
, 3y,
2 replies
Imagine taxing the "Unrealized Gain" on you house every year. Bought it for $200,000, now valued at $220,000 so the government taxes you on the $20,000 even thou you did not sell you house an get the $20,000. Get it now?
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Via_Getty
1 up
, 3y,
1 reply
That's how property taxes in Texas work already. County running low on cash? Surprise! Your house is now worth 10% more! Pony up.
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berry2690
1 up
, 3y
Yes, but this would be income tax on the $20,000, not property tax.
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Via_Getty
0 ups
, 3y
Oh I get it. Yellen is a maniacal munchkin.
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UNREALIZED GAINS; THEY'RE TAXABLY DELICIOUS!